Canadian recreational cannabis sales jump 12% in June to CA$426 million

Published

1 year ago

August 24, 2023

Sales of Canadian recreational cannabis jumped to 426.6 million Canadian dollars in June ($316.7 million), a year-over-year increase of 12%.

It’s also the fourth straight month that Canada’s sales exceeded CA$400 million, according to the latest retail sales data by Statistics Canada.

Through the first six months of 2023, CA$2.4 billion worth of cannabis has been sold in Canada, which is 9% higher than the first half of 2022.

Ontario, British Columbia and Alberta continued to power most of the sector’s growth, while the province of Quebec had the slowest growth in the country.

Ontario’s sales in June 2023 were CA$167.8 million, up 9.9% compared to June 2022.

Retail sales of recreational cannabis products in Ontario increased by CA$15.1 million year-on-year, which is higher than the overall sales of four of Canada’s 10 provinces.

Alberta had the second-highest sales.

In June, Alberta sold CA$75.2 million worth of adult-use cannabis products, up 12% over the same month last year.

In the remaining provinces, monthly marijuana sales in June 2023 and comparisons to sales in June 2022 were:

British Columbia: CA$66 million (+22%)
Quebec: CA$53.4 million (+7.1%)
Manitoba: CA$16.4 million (+15.3%)
Nova Scotia: CA$9.8 million (+12.9%)
New Brunswick: CA$7.6 million (+10.8%)
Newfoundland: CA$6.6 million (+29%)
Prince Edward Island: CA$3 million (+8.7%)
Saskatchewan: CA$19.5 million (+25.4%)
Yukon: CA$1.1 million (+17%)

Among Canadian municipalities, Toronto continued to lead the way with CA$53.7 million in sales in June 2023, up 3.1% over the same month last year.

Montreal was second, with CA$29 million of sales, up 7.2% over June 2022.

Cannabis retail sales in select Canadian cities and monthly sales changes were:

Edmonton, Alberta: CA$24.9 million (+14.1%).
Vancouver, British Columbia: CA$21.5 million (+17.9%).
Calgary, Alberta: CA$21.1 million (+15.4%).
Ottawa, Ontario: CA$17.8 million (+7.9%).
Winnipeg, Manitoba: CA$10 million (+10.7%).
Quebec City: CA$4.8 million (+4.2%).
Gatineau, Quebec: CA$1.3 million (-21%).

Statistics Canada’s cannabis retail sales data is available here.

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Cineplex reports $24.7M Q3 loss on Competition Tribunal penalty

Published

22 hours ago

November 6, 2024

Anne Joseph

TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.

The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.

The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.

The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.

Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.

Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.

This report by The Canadian Press was first published Nov. 6, 2024.

Companies in this story: (TSX:CGX)

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Business

Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

Published

2 days ago

November 5, 2024

Anne Joseph

TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

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Business

Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

Published

2 days ago

November 5, 2024

Anne Joseph

ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

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